The Economic and Financial Crimes Commission (EFCC) has told the Lagos State Special Offences Court in Ikeja that it has no evidence backing the allegation that Jude and Paul Okoye were involved in the unlawful withdrawal of $800,000 from P-Square’s finances.
The issue stems from a 2024 petition filed by Peter Okoye, who accused Jude—then serving as the group’s manager—of secretly running 47 undisclosed bank accounts, altering the ownership structure of Northside Entertainment Ltd, and diverting the group’s revenue.
These claims formed the basis of the charges instituted by the EFCC against Jude.
However, during cross-examination at Friday’s hearing, EFCC counsel M.K. Bashir surprised the courtroom when Justice Rahman Oshodi asked him to present proof of the alleged withdrawal.
Bashir stated plainly that the Commission had no such evidence, saying: “We do not have it. It is his evidence. Let him prove it. I can’t give what I don’t have.”
Peter had testified on May 23, 2025, insisting that new documents showed Jude and Paul withdrew and shared over $800,000 between March 2023 and October 2024.
But under questioning from defence counsel Clement Onwuenwunor (SAN), Peter later admitted the transactions actually occurred much earlier—in 2013 and 2014.
The defence further challenged Peter’s position regarding the alleged 47 bank accounts. While Peter maintained that the EFCC had the records, Bashir denied this, confirming the agency had no such documentation.
Onwuenwunor asked the court to order both Peter and the EFCC to produce the materials. Justice Oshodi, however, ruled that the defence must file a formal application since the documents were not before the court and had not been tendered as evidence.
Another of Peter’s claims—that Jude owned 80 per cent of Northside Entertainment—was also questioned after the defence submitted Corporate Affairs Commission records contradicting him.
The court also revisited Peter’s testimony about not knowing that Northside Music existed or that Jude had signed Cynthia Morgan. Peter said he only became aware of this in 2024 when she forwarded her contract to him.
Justice Oshodi adjourned the case to December 12, 2025, for continuation of the trial.
